A show cause notice was issue to Anil Ambani under the Foreign Black Money Act for non-disclosure of assets worth Rs 814 crore. The notice also accused Anil Ambani of tax evasion of Rs 420 crore.
Finance Minister Nirmala Sitharaman apprised the House of the various measures taken by the government to bring to tax the undisclosed foreign assets and income in the recent past.
In case of one group, it has been found that the payments made for these bogus purchases, etc., were being received back in cash by the group.
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to a 14-year high of 3.83 billion Swiss francs.
Once a probe is initiated in an undisclosed foreign income or asset, the relevant foreign authorities should be approached under available tax treaties/legal instruments within 21 days.
Several individuals who are suspected to have moved abroad after evading taxes back in India are also being probed and their banking details are in the process of being shared.
The Madras High Court granted anticipatory bail to former Union Minister P Chidambaram's son in connection with the warrant issued by the I-T for allegedly not disclosing foreign assets.
Finance Minister Arun Jaitley defends demonetisation, says it succeeded in unearthing black money, preventing corruption
He also informed the House that data analytics was being used to match information in IT returns with cash deposit data and identify high risk cases/ groups for necessary verification/investigation.
The Law Commission is set to recommend legalising betting in sports and gambling. It will soon submit its report, a draft copy of which has been accessed by Express, to the government and the Supreme
The places raided included the residence of M. Natarajan, Sasikala's husband, in Thanjavur; Kodanad Tea Estate belonging to Jayalalithaa; Jazz Cinemas, Midas Distilleries, Jaya TV and Dr Namadhu MGR.
A majority of people took to digital mode of transactions to make the country cashless following the announcement of demonetization by the Prime Minister Narendra Modi on November 8 last year.
Thackeray who heads the Yuva Sena (youth wing of Shiv Sena), said the government has turned a deaf ear to the people's woes.
Former Prime Minister Manmohan Singh said November 8 this year would be observed as black day for our economy and democracy stating demonetisation had claimed at least 100 lives.
The vast leak of financial papers has details on 180 countries, India ranks 19th in terms of the number of names.
PM Modi while addressing the Parivartan Rally in Himachal Pradesh said that the election has become one-sided as the Congress have run away.
Rs 4,000 crore fraud by shell firms found since demonetisation, says PM Modi as 2.24 lakh companies struck off, 3.09 lakh directors disqualified
With the first anniversary of demonetisation approaching, the government has raised the pitch to prove that its decision to ban high-value notes has worked.
Prime Minister Modi on November 8, 2016, demonetised Rs 500 and Rs 1,000 notes in a bid to clamp down on black money, fake currency menace, terror funding and corruption.
Prime Minister Narendra Modi on Thursday held delegation level talks with the President of the Swiss Confederation, Doris Leuthard.
All but 1.4 per cent of the old Rs 1,000 notes have come back into the banking system post demonetisation.
The apex court said "malafides" cannot be attributed to the Aadhaar scheme as it would go a long way to check and minimise the malaise.